UAE-based investment bank Arqaam Capital has entered into a partnership with Four Seasons Hotels and Resorts to manage and operate Arqaam's luxury mixed use resort currently being developed on the island of Hvar in Croatia.
Four Seasons Resort Hvar, Croatia is expected to open in 2019, Arqaam said in a statement.
Located on a prime waterfront site at Brizenica Bay along the Dalmatian coast, Arqaam's luxury development will feature a 120-room Four Seasons hotel and a luxury residential community including up to 61 Four Seasons Private Residences, it added.
Riad Meliti, CEO of Arqaam Capital, said: "We are creating a natural retreat within a stunning, secluded enclave in one of the Dalmatian Coast's most beautiful and private bays.
"Four Seasons was the natural choice for us as they share our commitment to elegance, unrivalled service, and luxury. They have a long history, a strong and undiluted brand, and an uncompromising dedication to the highest standards."
J Allen Smith, president and CEO, Four Seasons Hotels and Resorts, added: "In Arqaam Capital we have found the ideal partner for our entry into Croatia... Croatia is one of Europe's fastest growing tourism markets and a highly sought-after leisure destination for discerning global travellers."
The resort will have its own private bay, multiple swimming pools and private infinity pools, a spa and fitness centre, a selection of restaurants, cafes, bars and retail boutiques, along with conference and banqueting facilities.For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.